Tips to start your data-driven strategy:

Data should be a part of any marketing strategy where the focus should be on targeted messaging using a data-driven approach – who you target, what products to target with and why. This is what makes the difference. 

Understanding funnel data

You will never know what’s working, or not, unless you look at your business like a funnel. Is it your website that’s the issue? Is your messaging not speaking in the right tone of voice? 

What does ‘the funnel’ mean? 

It describes
the steps that users take to move from being a prospect, to a customer and
include stages focused on awareness, consideration, purchase, and retention.

Funnels help
us understand our customers and improve how we market to them. It pinpoints
where we need to optimise, or where to cut back efforts.

Consider:

• Where do your customers first engage with your business – ‘top of funnel’ initial touchpoints
• How do you interact back – do you send them an email, or did they go to your website?
• How does the
  first engagement eventually lead to a sale? Did the email offer convince them
  to purchase?
• The customer journey is a complex one and the path to conversion can look several different ways, but it’s important to look at the big picture and capture these ideas. 

 

Understanding the LTV (Life Time Value)
of Customers

Those customers that spend £500 are better than those that spend £50. Use data analysis to start segmenting your customers to find and attract those that are the most valuable to you and will bring in the most revenue. 

Use data to inform a cross-channel strategy

An example
of this would be to use learnings from an email creatives campaign to
understand what drives the highest click-through rates. Then use this data for optimising
Facebook and Google.

By
simultaneously running organic and PPC campaigns gives you double the data to
analyse and shows which organic and PPC keywords have the highest conversion
rate. This will determine the overall strategy.

Recommended
tools to use:

Google
Analytics – Will tell you the basics of what you need to know. Are website
sales growing or declining? What does AOV look like? Best performing channels
and traffic source?

Your own CRM/CMS System – this is where most, if not all your customer data is
stored

Infinity Nation’s Data Tool Offering – It’s pulling this intel from multiple data sources and serving it in a single place – allowing you to make business critical decisions quickly.  

 

For more help and advice about data analysis, get in touch. Alternatively to request a complimentary 30-minute consultation book your slot here.